Waberer’s finally set to deliver an IPO on Hungarian bourse

By bne IntelliNews May 22, 2017

Hungarian trucking company Waberer’s International is preparing for an IPO on the Budapest Stock Exchange in July, according to media claims.

If accurate, the reports will be hugely welcome in the Hungarian capital. Waberer’s has been touted as the leading private candidate to help revive the BSE via a float since the Magyar Nemzeti Bank took over the bourse in late 2015. Several other names identified to bne IntelliNews appear to have fallen back from any likely action in the near future.

Waberer’s had looked to have given up on its IPO plans last year, when private equity fund Mid-Europa Partners raised its stake to 97.1% and delisted the transport company’s shares from the BSE.

However, Mid-Europa has now appointed Citibank, Erste, Berenberg and Renaissance Partners  to set up the float, “people familiar with the plans” told the Financial Times. Waberer’s is expected to have a market capitalisation of more than €500mn, which would make it the biggest IPO in Hungary in more than a decade, the newspaper claims.

Certainly, it appears a good time to strike. Hungary’s main BUX index has hit all-time highs in recent weeks, as strong economic growth meets loose monetary policy. The index was among the top global performers in the last two years, rising 37.8% in 2016 after a 40% increase in 2015.

Related Articles

Owner of Hungary’s flagship retail chain CBA sells remaining shares

The co-founder and owner of Hungary's flagship retail chain CBA, the fourth-largest in turnover, is selling his remaining share in the company, local media reported on May 22. Laszlo Baldauf is ... more

Hungary fills labour market gap by luring workers from non-EU countries

Last year 25,000 foreigners outside of EU countries received working permits in Hungary, an increase of 10,000 from 2017, to ease the dire labour shortage, the pro-government daily Magyar Idok ... more

Hungarian owners take back ownership of leading e-retailer

The two Hungarian businessmen with minority stakes in Extreme Digital, Hungary's leading electronics retailer, have purchased back 50.4% of its shares from South African company Steinhoff ... more

Dismiss